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Aviva Announces Third Quarter 2022 Results

Aviva’s UK&I Life Nine Months 2022 New Business Value (VNB) was £466m, an increase of 46% year-on-year. However, overall UK&I Life sales were down 1% to £24.9bn.

Aviva continues to have strong sales growth of 3% in Wealth and 4% in Protection & Health, but these are Block Purchase Annuities (BPA) as price selection and discipline remain said to be offset by a decrease in the amount of The insurer got his strong net worth of £4.1bn, up 11% on Workplace. However, overall net asset flows fell by 4% compared to the nine months of 2021 to £7bn.

Aviva’s acquisition of Succession Wealth closed in August of this year, giving Succession Wealth advisors access to Aviva’s platform to benefit from its competitive offerings and access to multi-asset funds .

Group Chief Executive Officer Amanda Blanc commented on the results, saying the transaction was strong and Aviva’s performance was “consistently strong”. She believes the nine-month performance the insurer has seen is due to its market-leading position, customer focus, and diversified business advantages spanning insurance, wealth and retirement.

“Our customers continue to save for the future and protect what is of value to them,” she said. “Our wealth business flows have been encouraging, with general insurance volumes continuing to grow, particularly in the commercial sector,” she said.

“Aviva’s capital and liquidity positions are strong and our high-quality asset portfolio has performed well during recent periods of extreme market volatility.”

Mr Blanc added that Aviva remains confident in its prospects and expects to meet its financial targets while transaction momentum increases. Aviva’s dividend guidance remains unchanged and, as previously announced, plans to begin returning additional capital to shareholders in its full-year 2022 results.

Aviva Announces Third Quarter 2022 Results

Source link Aviva Announces Third Quarter 2022 Results

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